Author sees $1,000 gold ahead

Nearly five years after first writing the book "Rediscovering Gold in the 21st Century," author Craig R. Smith today announced he expects to see $1,000 gold prices within the next five years.

When his book was first released in August 2001, gold was near $265 an ounce. Yesterday, gold stole the financial headlines as the price surged $12.70, over 2 percent, to close at $585.80.

Gold is now up over 120 percent since 2001 and 34 percent year-over-year.

"Contrary to mass media financial headlines, after subtracting inflation's effect upon the falling U.S. dollar, gold is not at "25-year highs" as reported, but rather near 5-year lows, using official government statistics," said Smith.

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So $1,000 gold today, he concluded, only equates to $500 gold in 1980.

"Metal prices are still a bargain in terms of global buying power, and the world knows it, fund managers are discovering it – now the only question is, when will the American public?" says Smith.

To help educate the public about gold, Smith has an extensive free online library of resources at which he discusses:

• Why is gold up? ... How far will it go?
• Do interest rates affect the gold price?
• Is the U.S. dollar fundamentally strong, or slowly collapsing?
• How is our $9 trillion debt prompting central bank gold buying?

Sample free online educational resources:

• Mr. Smith helps CNN rediscover gold in Dec. 2004 – story and video.
• Mr. Smith's latest "Real Money Perspectives" Annual Journal: The Rule of Gold (2/06)
• Mr. Smith's latest Special Report: Gold Rush, Phase II
• Mr. Smith's Preface to "Rediscovering Gold in the 21st Century"

Related offer:

"Rediscovering Gold in the 21st Century: The Complete Guide to the Next Gold Rush "